Emirates NBD, Dubai’s state-owned financial institution, has began providing crypto buying and selling companies by means of its digital financial institution subsidiary, Liv Financial institution. A key issue driving that is the elevated curiosity of millennials and Gen Z in various property, together with non-public fairness, non-public debt, actual property, and infrastructure.
Massive information: As we speak, we’re very excited to announce that we have partnered with @EmiratesNBD_AE to energy crypto buying and selling on their Liv X app!
Emirates NBD is a number one banking group within the Center East, North Africa and Türkiye (MENAT) area, with complete property of roughly USD…
— Aquanow (@aquanow) March 6, 2025
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Liv Financial institution Expands Into Crypto, Buying and selling and Custody Companies Now Reside on Liv X Platform
On 5 March 2025, the digital financial institution launched crypto buying and selling options, enabling retail Liv purchasers within the UAE to commerce 5 main cryptocurrencies, together with Bitcoin, Ether, Solana, XRP, and Cardano.
Aquanow CEO Phil Sham mentioned, “The launch of this providing with Emirates NBD marks a defining second for digital property within the UAE and past.”
Liv additionally gives custody companies to its customers by means of Zodia Custody on its Liv X app. Notably, Emirates NBD made a strategic funding within the firm in late 2024.
Marwan Hadi, Emirates NBD’s group head, retail banking and wealth administration mentioned, “Providing cryptocurrency on Liv X is the subsequent step in direction of the general imaginative and prescient of Liv being a pioneer in innovation and excellence.”
Liv Financial institution experimented with crypto final Might when it began providing tokenised real-world property (RWA) to its purchasers in partnership with tokenisation agency Ctrl Alt.
Again then, Hadi mentioned, “Liv is the primary financial institution within the UAE to discover providing tokenised real-world asset investing alternatives to clients, and we’re delighted to co-partner with a number one infrastructure supplier similar to Ctrl Alt for this initiative.”
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Emirates NBD’s Evolving Crypto Technique
Emirates NBD’s broader curiosity in Bitcoin and blockchain expertise aligns with Liv Financial institution’s introduction of crypto buying and selling. The mum or dad financial institution has beforehand experimented with blockchain and its purposes for its enterprise, notably commerce financing.
Emirates NBD beforehand labored with the Dubai Chamber of Commerce on a commerce finance blockchain in 2019. Not too long ago, Emirates NBD has been prioritising tokenised deposits for cross-border funds. The financial institution has partnered with Partior, a DLT-based funds community based by DBS Financial institution, JP Morgan, Normal Chartered and Temasek, to facilitate cross-border funds.
Partior and Emirates NBD are focusing their collaboration on exploring potential involvement moderately than making a agency dedication. Nonetheless, if it strikes ahead, Emirates NBD would function a community settlement financial institution for the UAE Dirham, Saudi Riyal, and Indian Rupee. Moreover, it might act as a participant financial institution for different currencies, leveraging the community’s banks to facilitate instantaneous cross-border funds for its purchasers.
The financial institution’s newest foray into retail crypto buying and selling comes at a time when the crypto sector within the UAE is witnessing large adoption, with native crypto app downloads seeing a 41% improve final 12 months.
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Key Takeaways
Liv Financial institution launches crypto buying and selling and custody companies with Aquanow and Zodia Custody.
Millennials and Gen Z drive retail investments in digital property within the UAE
UAE’s crypto adoption surges, with native crypto app downloads rising by 41% final 12 months.
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